Inaugural DrivingSales AutoVentures Conference Review

For the first time ever, the young companies shaping the future of the automotive industry came together to compete for investment dollars at DrivingSales AutoVentures 2015. AutoVentures was be held in coordination with the DrivingSales Executive Summit on the conference’s opening day yesterday, October 18.

Jared Hamilton, CEO and founder of DrivingSales greeted nearly 200 attendees this morning at the Bellagio, Las Vegas with a clear message about the opportunities and challenges in the automotive ecosystem. In his interpretation, he told the entrepreneurs, progressive dealer executives and leading vendors in attendance that the current state of automotive presents “strange opportunities.” He identified the Great Recession, the ensuing near-zero interest rates, and consumer pressure to improve the experience as contributing factors. Hamilton added that while the aspects unearth huge windows for disruption, the ecosystem is characterized in an inverse nature, with an enormous amount of money and market filtered through a small amount of people. The conclusion … it takes a different type of entrepreneur and a different type of investor to navigate the market’s intricacies and it must be fostered from within.

The introduction from Hamilton appropriately set the tone for more than 20 disrupters to take the stage and make their case for entry and sponsorship to the opportunistic automotive vertical.

The young companies were divided into three groups and given five minutes to share their business case. For another two minutes the company presenters took questions from a diverse panel of heavy-hitting automotive professionals. Attendees voted for the favorites, and the results are in:

The Winners and Runners Up

Early Stage

Winner: PartPic

• Simplifies the search and purchase of replacement parts using visual recognition technology

Runners Up:

RedCap

• Delivers a seamless and branded experience to customers who prefer to work with you off-site, from test drives to service

DealerHQ

• Provides dealers with a single customizable portal for the dozens of web applications used on a daily basis and provides real-time oversight of vendors

Mid-Stage

Winner: Nuve

• Utilizes sensors and anti-siphoning devices to prevent fuel and cargo theft across fleets

Runners Up:

DealerSync

• One-stop solution for dynamic websites designed around the process and daily needs of independent dealers

NuPark

• Leverages License Plate Recognition (LPR) technology to revolutionize the everyday management of parking operations

Late-Stage

Winner: Friendemic

• Social engagement & brand building, reputation management, and social analytics for the dealer audience

Runners Up:

Mechanic Advisor

• Full service marketing platform built for repair shops

Showroom Logic

• Market share optimization tool that allows dealers drive efficiency